Head of GBV Capital: “NFTs and Bitcoin have similarities” – Bits Media

Christian Ng, head of the Hong Kong company GBV Capital for investments in blockchain-based developments, spoke about investments in collectible tokens. He considers, that NFTs and Bitcoin have a lot in common.

In an interview with The Millennial Source, Christian Ng (Christian Ng) stated, what The similarity between Bitcoin and NFTs is community building, uniting people with similar views. He called Bitcoin the first "NFT", which will be released in limited quantities in 21 Million coins, as they can be considered relatively unique compared to regular money. People, owning even a small amount of BTC, feel part of a community, Ng said.

According to the expert, there are three main factors, fueling the development of the NFT industry. Primarily, this is traditional art. Artists are beginning to actively explore the possibility of digitalizing their work. A striking example is the sale of a painting by the artist Beeple as an NFT for $69.3 million. Secondly, it's about creating communities, in which a limited number of people become participants. The widespread demand for video games and the development of the metaverse concept also play an important role in the spread of NFTs, Ng thinks.

At the same time, the specialist warns users, what, if they plan to buy collectible tokens, you need to be prepared for a possible loss of funds. Therefore, he recommends that investments in NFTs be considered a normal purchase of works of art.. Even in the worst case scenario, users will still have the artwork in digital form. Ng also spoke about his own experience investing in NFTs.

“I bought two NFTs for about $200 for your birthday. Many people thought, that I'm crazy, having spent $400 to pictures in JPEG format. I bought them for fun, I liked those artworks, and I watched the development of the community. This investment has paid off., and I sold one of these collectible tokens for $100 000», – said the head of GBV Capital.

He stressed, that any NFT issuer has an interest in the success of their token, a team, behind its development, may be really passionate about an idea. At the same time, it is unknown, what might happen in the future. It is likely, that some new token may appear, which has many possible uses, Ng added.

Head of cryptocurrency projects of the Visa payment system Kai Sheffield (Cuy Sheffield) also thinks, that non-fungible tokens have made the cryptocurrency industry more interesting.